MPC Münchmeyer Petersen Capital AG

Earnings Release • May 14, 2004

News Details

Corporate | 14 May 2004 08:01

MPC Capital triples net profit in Q1 2004

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– MPC Capital triples net profit in Q1 2004 Hamburg, May 14, 2004 – MPC Münchmeyer Petersen Capital AG, Hamburg, continued its very positive business performance with another record quarter. The SDAX- listed financial service provider boosted its first-quarter sales by 155% to EUR 33.7 million, compared to EUR 13.2 million in the previous year. At EUR 8.8 million, earnings before interest and taxes (EBIT) were up 169% on the previous year’s EUR 3.3 million. Net profit for the first quarter tripled from EUR 2.3 million to EUR 6.8 million. As a result, earnings per share climbed from EUR 0.21 to EUR 0.64. As of March 31, 2004, the Hamburg-based issuing house employed 165 people (previous year: 138 people). “Thanks to our steady availability of products, especially in the real estate and ship investment segments, we achieved a gratifying increase in our results, making the first three months of 2004 another record quarter. With regard to our plans for the future, we were also able to leverage attractive opportunities, on the one hand through the acquisition of our first piece of real estate in England and the launch of our 50th Dutch real estate fund, on the other hand through the acquisition of 14 sea-going ships from P&O Nedlloyd. We have already contracted the full product volume that is required to reach our earnings target of approximately EUR 30 million, which compiles an excellent position for the rest of the year”, said Board Chairman Dr. Axel Schroeder. The Managing Board has therefore confirmed its full-year projections. At EUR 28 – 30 million, net profit is expected to be somewhat lower than in the previous year due to the planned staff increase. Accordingly, earnings per share will amount to between EUR 2.64 and 2.83, allowing an attractive dividend to be payed for 2004. MPC Capital AG expects to place EUR 700 – 750 million in equity (2003: 748 million). The report on the three-month period ended March 31, 2004 is available in the “Investor Relations” section at http://www.mpc-capital.com. Inquiries: Andreas Schwarzwälder Investor Relations MPC Münchmeyer Petersen Capital AG, Palmaille 67, D-22767 Hamburg, Phone: +49 (0)40 / 38022-347, fax: +49 (0)40 / 38022-878, e-mail: ir@mpc-capital.com end of message, (c)DGAP 14.05.2004 ——————————————————————————– WKN: 518 760; ISIN: DE0005187603; Index: SDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Hamburg; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 140801 Mai 04